Author: Roy Badami 2014-03-29 09:27:22
Published on: 2014-03-29T09:27:22+00:00
In an email exchange between Andreas Schildbach and Mike Hearn, the issue of warranty expiration time for Bitcoin transactions was discussed. The suggestion was made to set a fixed expiry time in the spec, with two and a half years (30 months) being proposed as an appropriate length of time to allow for shipping. However, concern was raised about whether there was enough RAM available for such a lengthy period. It was noted that warranties usually result in defective goods being replaced rather than refunded, with the Distance Selling Directive stating a minimum of seven days for returns but with some countries allowing more. The latest possible deadline for returning goods for a refund is up to 30 days plus at least seven days, plus possible shipping time, resulting in a couple of months overall. However, this was deemed too short a time in practice, especially for orders that are delayed.
Updated on: 2023-06-08T16:47:55.053708+00:00